Cloud over General Pants, SurfStitch’s future amid $5.2m swing to loss

The future of fashion retailers General Pants, SurfStitch, Ginger & Smart and others is in question after their parent company Alquemie Group revealed a net loss after tax of $2,009,000 in the 12 months to July 2, 2023, that it owes $46.9 million to third-party suppliers and contractors, and that it has been unable to secure a formal waiver of its covenant breaches from the bank. More from The Sydney Morning Herald.